EU to disburse new tranche to Ukraine under €50 billion program
Photo: European Commission President Ursula von der Leyen (Getty Images)
The European Union will allocate a new tranche for Ukraine under the Ukraine Facility program by the end of the year. The amount of the new package is not yet known, according to European Commission President Ursula von der Leyen.
She said that the EU would help Ukraine recover from the war and support it on its path to membership.
According to the President of the European Commission, Ukraine has made a huge step forward, the bilateral screening process is ongoing, and in parallel there is a Ukrainian plan that includes important reforms for this accession path.
“And it (the plan - ed.) is supported by 50 billion euros that are delivered on the achievements on reforms. So it is a 50 billion investment of four years - 2024-2027. We see a lot of progress. Thanks to this progress, we have already disbursed over 12 billion euros and we expect another tranche to be disbursed before the end of the year,” Ursula von der Leyen said.
She did not specify the amount of the tranche that Ukraine will receive.
A program worth 50 billion euros
In February 2023, the European Parliament approved the Ukraine Facility program to support Ukraine. It provides for the allocation of EUR 50 billion to Ukraine over four years.
In June, Ukraine and the EU signed a loan agreement under the Ukraine Facility program.
Ukraine received a €4.2 billion tranche from the European Union under the program in August. The money was used for social programs, humanitarian aid, and other important budget programs.
